United Overseas Bank Profit Beats Estimates on Loan Growth
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United Overseas Bank Ltd., Southeast Asia’s third-largest lender, posted its highest quarterly profit in eight years on higher loan growth and gains from investments.
Net income rose 3.2 percent to S$808 million ($648 million) for the three months ended June 30 from S$783 million a year earlier, the company said in a statement to the Singapore stock exchange today. That beat the S$764 million average of six analysts’ estimates compiled by Bloomberg.